UK: Gio Goi brand enters administration
Youth clothing brand Gio Goi has fallen into administration.
Jane Moriarty and Colin Haig from KPMG Restructuring Partners have been appointed administrators to the brand.
Commenting on the appointment Moriarty said: "Following a restructuring programme last year, Gio Goi was unable to return to growth levels enjoyed up until 2009 and has become another victim of the recessionary environment.
"We are now looking to sell the business and assets and will continue to satisfy customer orders pending a sale of the business."
In the UK, the brand is distributed through JD Sports, USC, Littlewoods, Republic and Lifestyle in Ireland as well as a network of independent retailers.
Design is undertaken at the company's London-based head office, which focuses on two main and two subsidiary collections each year. Supply is sourced from an established network of factories in the Far East.
Gio Goi employed 24 people, the majority of which were made redundant upon appointment.
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